BRIDGETON — The County Freeholder Board voted last week to issue $1.5 million in bonds for the interior construction of the Cumberland County Arts and Business Innovation Center — set to be built in Millville's Glasstown Arts District.

The 30,000-square-foot property will cost a total of about $7.3 million and house a combination of departments, including Cumberland County College's (CCC) arts workforce and business development programs, the Greater Millville Chamber of Commerce and other retail space for the purpose of job training and business development. CCC will attain 61 percent of the building space.

The bond will go towards the construction of rooms, framing, floors, electrical installation and other interior utilities, according to Don Ayres, executive director of the Millville Urban Redevelopment Corporation (MURC).

MURC, a non-profit organization that obtains grants to implement and further economic development projects, is currently negotiating the project’s financing terms with several banks. Ayres expects the final terms to be decided sometime in April.

"Financing will come from a combination of funding sources," Ayres said. "We expect four funding sources — one bank loan and the other three we are hoping will come from grants — including a $2 million grant from the federal government."

Millville resident, Freeholder Joe Derella expressed an immense amount of excitement for the project. He sees the innovation center as another step forward for Millville and cited how far the city has come.

"About 15 years ago there was around 50 percent building vacancy in the downtown area," Derella said. "This project is another step in continuing to maintain Millville's identity with arts and education."

Millville Mayor Tim Shannon has no doubt about the great potential that could come from the project.

"No question about it," Shannon said. "The benefit it will give to the students, the merchants in the area and the tourism it will bring downtown on a daily basis. Millville is progressing in a big way and this is testament to that."

Shannon added,"It's not like it has been smooth sailing. We aren't there yet, but we are progressing in a direction where we want to go. We've had a few curve balls, but this project is just one more thing that is helping bring Millville back."

The timing of the project goes hand-in-hand with the recent announcement of newly appointed Cumberland County Improvement Authority (CCIA) Executive Director Gerard Velázquez III, of Vineland.

Velázquez, former president/CEO of Triad Associates — an economic development firm located in Vineland, said the CCIA, located in Millville, is interested in playing a big part in the project's development.

"The CCIA, myself and Don (Ayres) have been talking about our potential assistance so that the project becomes a reality," Velázquez said.

Ayres voiced that all conversations with the CCIA thus far have been positive and he expects that to continue. However, Ayres noted that, "Nothing has been finalized yet."

MURC has hired Velázquez' former firm, Triad Associates, to assist with the total financing package and negotiations with banks and potential investors. And Ayres believes Velázquez' previous experience with the firm can only help in this kind of deal.

Ayres said, "I think any time you have an entity like the CCIA with their resources and a partner like Jerry (Velázquez) who is recognized throughout the entire region as one of the best people in managing comprehensive and complicated development projects, it will only help improve things."

Velázquez indicated the deal to build the innovation center will be dictated by the final negotiations between investors and MURC.

Freeholder Deputy Director Doug Long voiced full support for the hands-on roll the CCIA is playing in the project. Long conveyed the importance of the Improvement Authority and feels it should play a roll in all major county development projects.

"I am a huge supporter of this project,” Long said. “Improvement authorities were not created just to manage landfills, but to also bring revenue sources and assist the county in improving itself."